ZLH.TO vs. XTOT.TO
ZLH.TO (BMO Low Volatility US Equity Hedged to CAD ETF) and XTOT.TO (iShares Core S&P Total U.S. Stock Market Index ETF) are both Large Cap Blend Equities funds. Over the past year, ZLH.TO returned 10.17% vs 27.70% for XTOT.TO. At a 0.26 correlation, their price movements are largely independent. ZLH.TO charges 0.30%/yr vs 0.07%/yr for XTOT.TO.
Performance
ZLH.TO vs. XTOT.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ZLH.TO achieves a 9.49% return, which is significantly lower than XTOT.TO's 14.52% return.
ZLH.TO
- 1D
- -0.10%
- 1M
- 1.61%
- YTD
- 9.49%
- 6M
- 8.95%
- 1Y
- 10.17%
- 3Y*
- 9.04%
- 5Y*
- 7.12%
- 10Y*
- 7.51%
XTOT.TO
- 1D
- 0.53%
- 1M
- 2.37%
- YTD
- 14.52%
- 6M
- 13.96%
- 1Y
- 27.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZLH.TO vs. XTOT.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZLH.TO BMO Low Volatility US Equity Hedged to CAD ETF | 9.49% | 1.12% |
XTOT.TO iShares Core S&P Total U.S. Stock Market Index ETF | 14.52% | 16.84% |
Correlation
The correlation between ZLH.TO and XTOT.TO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2025 | 0.26 |
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Return for Risk
ZLH.TO vs. XTOT.TO — Risk / Return Rank
ZLH.TO
XTOT.TO
ZLH.TO vs. XTOT.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.TO) and iShares Core S&P Total U.S. Stock Market Index ETF (XTOT.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ZLH.TO | XTOT.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.38 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.89 | -1.50 |
| Martin ratioReturn relative to average drawdown | 3.38 | 9.77 | -6.39 |
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Drawdowns
ZLH.TO vs. XTOT.TO - Drawdown Comparison
The maximum ZLH.TO drawdown since its inception was -33.34%, which is greater than XTOT.TO's maximum drawdown of -9.64%. Use the drawdown chart below to compare losses from any high point for ZLH.TO and XTOT.TO.
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Drawdown Indicators
| ZLH.TO | XTOT.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -9.64% | -23.70% |
Max Drawdown (1Y)Largest decline over 1 year | -7.35% | -9.64% | +2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -10.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.66% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.34% | — | — |
Current DrawdownCurrent decline from peak | -1.60% | 0.00% | -1.60% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -1.79% | -2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.84% | +0.18% |
Volatility
ZLH.TO vs. XTOT.TO - Volatility Comparison
The current volatility for BMO Low Volatility US Equity Hedged to CAD ETF (ZLH.TO) is 3.30%, while iShares Core S&P Total U.S. Stock Market Index ETF (XTOT.TO) has a volatility of 4.87%. This indicates that ZLH.TO experiences smaller price fluctuations and is considered to be less risky than XTOT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZLH.TO | XTOT.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 4.87% | -1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 7.33% | 10.62% | -3.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.39% | 13.65% | -3.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.21% | 13.51% | -1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.81% | 13.51% | +0.30% |
ZLH.TO vs. XTOT.TO - Expense Ratio Comparison
ZLH.TO has a 0.30% expense ratio, which is higher than XTOT.TO's 0.07% expense ratio.
Dividends
ZLH.TO vs. XTOT.TO - Dividend Comparison
ZLH.TO's dividend yield for the trailing twelve months is around 1.73%, more than XTOT.TO's 0.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
XTOT.TO iShares Core S&P Total U.S. Stock Market Index ETF | 0.81% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZLH.TO BMO Low Volatility US Equity Hedged to CAD ETF | 1.73% | 1.92% | 2.25% | 2.45% | 2.12% | 1.84% | 1.95% | 1.55% | 2.00% | 1.93% | 2.02% |
Frequently Asked Questions
ZLH.TO and XTOT.TO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XTOT.TO is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTOT.TO is cheaper with a 0.07% expense ratio, compared with 0.30% for ZLH.TO.
They also come from different issuers: BMO and iShares. Their fees differ too: 0.30% for ZLH.TO and 0.07% for XTOT.TO.
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